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Chegg: 3Q Earnings Snapshot

·1 min read

SANTA CLARA, Calif. (AP) _ Chegg Inc. (CHGG) on Monday reported a loss of $37.1 million in its third quarter.

The Santa Clara, California-based company said it had a loss of 29 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 17 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The provider of online textbook rental services posted revenue of $154 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $143.9 million.

For the current quarter ending in December, Chegg said it expects revenue in the range of $188 million to $190 million.

The company expects full-year revenue in the range of $626 million to $628 million.

Chegg shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $86.68, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHGG at https://www.zacks.com/ap/CHGG